Raymond James Financial Services Advisors Inc. Has $551,000 Stock Position in Envestnet, Inc. (NYSE:ENV)

Raymond James Financial Services Advisors Inc. decreased its stake in shares of Envestnet, Inc. (NYSE:ENV) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 11,124 shares of the business services provider’s stock after selling 383 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Envestnet were worth $551,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky increased its position in shares of Envestnet by 104.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,510 shares of the business services provider’s stock worth $771,000 after purchasing an additional 8,964 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Envestnet during the 3rd quarter worth approximately $995,000. Comerica Bank acquired a new position in shares of Envestnet during the 3rd quarter worth approximately $1,331,000. The Manufacturers Life Insurance Company increased its position in shares of Envestnet by 2.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 60,535 shares of the business services provider’s stock worth $2,665,000 after purchasing an additional 1,285 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Envestnet by 1.0% during the 3rd quarter. Sei Investments Co. now owns 37,351 shares of the business services provider’s stock worth $1,645,000 after purchasing an additional 360 shares during the last quarter.

Envestnet Stock Performance

ENV opened at $62.22 on Friday. The business has a fifty day simple moving average of $54.82 and a 200 day simple moving average of $47.77. The company has a market capitalization of $3.41 billion, a PE ratio of -14.24 and a beta of 1.31. Envestnet, Inc. has a 1 year low of $33.12 and a 1 year high of $68.83. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.90 and a quick ratio of 0.90.

Envestnet (NYSE:ENV) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.10. The business had revenue of $317.63 million during the quarter, compared to the consensus estimate of $312.24 million. Envestnet had a positive return on equity of 12.27% and a negative net margin of 19.17%. Research analysts expect that Envestnet, Inc. will post 1.78 EPS for the current year.

Insider Activity

In other news, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Matthew Majoros sold 700 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $56.92, for a total transaction of $39,844.00. Following the completion of the sale, the insider now directly owns 15,212 shares in the company, valued at approximately $865,867.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Taylor Wolfe bought 1,670 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $52.99 per share, with a total value of $88,493.30. Following the completion of the transaction, the director now owns 4,188,871 shares in the company, valued at approximately $221,968,274.29. The disclosure for this purchase can be found here. Corporate insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Envestnet from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. JMP Securities reissued a “market outperform” rating and set a $79.00 target price on shares of Envestnet in a report on Wednesday. Raymond James boosted their target price on Envestnet from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. StockNews.com raised Envestnet from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Finally, William Blair reissued an “outperform” rating on shares of Envestnet in a report on Wednesday, March 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.